Morning Market Wrap
11 Aug 2025
US markets ended Friday on a strong note, with major indexes advancing. The Nasdaq Composite closed at a record high, rising 207 points, or 0.98%, to finish at 21,450. The rally was once again driven by Apple, which continues to recover from its recent tariff-related underperformance.
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Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.
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Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.
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Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.
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*Note: These prices are based on futures and/or CFD pricing and may therefore differ slightly from spot pricing.
Commodities
Gold was caught up in tariff-related headlines on Friday after US customs officials ruled that imports of 1kg gold bars would be subject to the broader import tariff rate for certain countries. The news initially drove a spike in US gold futures before a White House official said a clarifying order on gold bars would be issued. Spot gold ended the session marginally higher at US$3,397.
Oil prices steadied, with West Texas Intermediate unchanged at US$63.88 and Brent crude adding 16c (+0.24%) to close at US$66.59. Prices had initially fallen following the announcement of a presidential meeting between Russia and the US, but losses were erased by the close. The quieter session followed a volatile week in which supply concerns from OPEC+ and Russia saw oil drop 5%.
Iron ore rose in Friday’s New York trade, ending at US$103.00—a 0.98% gain—after trading sideways in Asia. Over the weekend, Chinese data showed producer prices fell more than expected, reinforcing deflation concerns. In the past, such concerns linked to overcapacity have prompted authorities to restrict production, which could influence iron ore prices this week.
Copper advanced after Chilean authorities reported that last week’s collapse at Codelco’s El Teniente mine caused more extensive damage than initially thought. The disruption may affect the company’s plans to boost supply from existing facilities. On the London Metal Exchange, copper climbed US$78 (+0.80%) to US$9,762 a tonne.
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